AbbVie Inc. said Friday the new U.S. tax overhaul will slash its effective tax rate to 9% for 2018 and yield savings the drugmaker said it would use to return cash to shareholders and boost employee compensation.

Shares of AbbVie jumped 13.8%, to $123.21, adding about $24 billion to the market value of the North Chicago, Ill., maker of the multibillion-dollar arthritis drug Humira.